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Concrete Admixture Market Global Revenue Forecast To 2024 By Regional Manufacturers
Concrete Admixture Market
Latin America Concrete Admixture Market is probable to witness gains close to 8% during the forecast period. Countries including Colombia, Argentina, Bolivia, Peru, Chile and Uruguay strongly need to improve their infrastructure including roads, houses, bridges, etc. Government in the aforementioned countries are making substantial investment in the construction sector.
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Concrete Admixture Market is forecast to exceed USD 38 billion. Sturdy rise in the construction sector, mainly in India, China, Indonesia and Malaysia is attributed to industrialization and urbanization in these regions, which is probable to make significant impact on the concrete admixture market during the forecast period. For instance, in India USD 2.4 billion project is currently under progress to build the Navi Mumbai International Airport which commenced in March 2015 and is expected to be completed till 2019.
Non-residential applications for the concrete admixture market accounted for over 25% of the global industry share in 2016. Non-residential applications include buildings, medical centers, education hubs, retail shopping centers, etc. Rising infrastructure activities primarily in the Asia Pacific will help attain promising gains to concrete additive market over the forecast span. For example, Laos and China signed an agreement in March 2018 for the implementation of building China-aided Mahosot hospital to modernize medical services in the region.
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Air entraining concrete additive market is projected to witness gains of more than 8.5% by 2024. Air entraining mixture creates air bubble in the concrete which act as rollers and helps in improving the workability. These admixtures are also very effective in freeze thaw cycles and provide cushion effect on the expanding water while concreting in cold climate. The application of this admixture on hardened concrete is quite complex to attain the correct level of air pressure. It improves concrete structure durability by enhancing its firmness and cohesion which will help augment product demand, and subsequently will drive concrete additive market by 2024.
The major concrete admixture market share is divided among RPM International, BASF, Bostik, CEMEX, CICO Group, MAPEI, Sika, Euclid Chemical, Dow, Cementaid and FOSROC. The abovementioned organizations are spending heavily on their R&D to expand their range of available products. For instance, Sika Group had launched a sustainable admixture named Sika Viscocrete GR 5000 in Qatar in 2016. It is mainly due to the green initiative policies being adopted in Europe to achieve more cost effective and environment friendly construction techniques.
Related news - https://www.marketwatch.com/press-release/38-bn-concrete-admixture-market-study-report-2019-2024-2019-06-04
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